UMB Bank n.a. Sells 85 Shares of NetApp, Inc. (NASDAQ:NTAP)

UMB Bank n.a. lowered its holdings in NetApp, Inc. (NASDAQ:NTAP) by 10.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 699 shares of the data storage provider’s stock after selling 85 shares during the period. UMB Bank n.a.’s holdings in NetApp were worth $86,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NTAP. Acadian Asset Management LLC lifted its position in shares of NetApp by 17.5% during the second quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock worth $359,517,000 after acquiring an additional 416,233 shares in the last quarter. Legal & General Group Plc lifted its holdings in NetApp by 3.5% during the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock worth $309,811,000 after purchasing an additional 82,378 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in NetApp by 254.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,304,512 shares of the data storage provider’s stock worth $241,905,000 after purchasing an additional 1,654,942 shares during the period. TD Asset Management Inc grew its holdings in NetApp by 26.5% during the 1st quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock valued at $225,532,000 after buying an additional 450,263 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its position in shares of NetApp by 11.9% during the first quarter. Epoch Investment Partners Inc. now owns 1,982,787 shares of the data storage provider’s stock valued at $208,133,000 after buying an additional 211,204 shares during the period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Trading Up 1.6 %

NASDAQ NTAP opened at $126.93 on Monday. The stock has a 50-day moving average of $123.03 and a 200-day moving average of $118.87. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. NetApp, Inc. has a 1-year low of $70.82 and a 1-year high of $135.01. The firm has a market cap of $26.12 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 4.77 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.64%. NetApp’s dividend payout ratio is currently 44.83%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Wedbush restated a “neutral” rating and set a $120.00 target price on shares of NetApp in a research report on Monday, August 26th. Stifel Nicolaus raised their price target on NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Barclays boosted their price objective on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $129.06.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares in the company, valued at approximately $1,475,782.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now owns 11,694 shares in the company, valued at $1,475,782.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.